QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report)’s share price traded up 0.2% during mid-day trading on Wednesday after Argus raised their price target on the stock from $180.00 to $205.00. Argus currently has a buy rating on the stock. QUALCOMM traded as high as $180.71 and last traded at $180.56. 2,194,854 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 8,650,377 shares. The stock had previously closed at $180.15.
Other analysts have also issued reports about the stock. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Wolfe Research lifted their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Bank of America lifted their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, HSBC lifted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.48.
Get Our Latest Research Report on QUALCOMM
Insiders Place Their Bets
Institutional Investors Weigh In On QUALCOMM
Hedge funds have recently bought and sold shares of the business. Berkshire Money Management Inc. bought a new stake in shares of QUALCOMM in the 1st quarter worth about $356,000. Doheny Asset Management CA lifted its stake in shares of QUALCOMM by 8.0% in the 1st quarter. Doheny Asset Management CA now owns 17,803 shares of the wireless technology company’s stock valued at $3,014,000 after purchasing an additional 1,312 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of QUALCOMM by 1.6% in the 1st quarter. Bleakley Financial Group LLC now owns 34,307 shares of the wireless technology company’s stock valued at $5,808,000 after purchasing an additional 541 shares during the last quarter. Great Diamond Partners LLC boosted its holdings in shares of QUALCOMM by 2.6% in the 1st quarter. Great Diamond Partners LLC now owns 3,112 shares of the wireless technology company’s stock worth $527,000 after purchasing an additional 78 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of QUALCOMM by 20.7% during the 1st quarter. ProShare Advisors LLC now owns 1,466,915 shares of the wireless technology company’s stock valued at $248,349,000 after purchasing an additional 251,417 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.
QUALCOMM Stock Performance
The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business has a 50-day moving average of $168.62 and a 200-day moving average of $148.09. The company has a market capitalization of $201.49 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33.
QUALCOMM Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. QUALCOMM’s payout ratio is currently 45.70%.
About QUALCOMM
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.
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